Establishes a program requiring property insurers to offer discounts to condominium associations for risk mitigation upgrades.

The bill establishes a discounts for risk mitigation program in Hawaii, requiring property insurers to offer discounts to condominium associations that make certain upgrades to increase the properties' resilience to disasters. These upgrades include clearing vegetation, using noncombustible materials, creating defensible spaces, and installing fire-resistant features. The program aims to incentivize condominium associations to improve their properties' resilience, thereby reducing the likelihood of damage and insurance claims.

Establishes a program requiring property insurers to offer discounts to condominium associations for risk mitigation upgrades.

The bill establishes a discounts for risk mitigation program in Hawaii, requiring property insurers to offer discounts to condominium associations that make certain upgrades to increase the properties' resilience to disasters. These upgrades include clearing vegetation, using noncombustible materials, creating defensible spaces, and installing fire-resistant features. The program aims to incentivize condominium associations to improve their properties' resilience, thereby reducing the likelihood of damage and insurance claims.